Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

TUSKON offers Brazilian investors cooperation in tourism

Turkish Confederation of Businessmen and Industrialists (TUSKON) President Rızanur Meral on Thursday called on investors from Brazil to enhance cooperation with their Turkish counterparts in tourism projects. Meral met Brazilian Foreign Minister Antonio Patriota in a meeting in İstanbul on Thursday where commercial ties between the two countries were discussed. A total of 30 TUSKON member investors participated in the meeting.

Pak-Turk schools hold graduates moot

The school administration believes that the action is taken to appease Turkish president Recep Tayyip Erdogan, who believes that the school promotes and teaches his arch-rival and cleric Fetullah Gulen’s teachings. “We have gone through the school curriculum during our time and have not found them imparting any extremism ideology or anything that goes against the interests of Pakistan,” said one of the graduates.

Erdogan’s Maarif Foundation To Contribute Radicalism, Exacerbate Muslim-Christian Tension In African Countries

Turkey’s President Erdoğan has aimed at replacing the positive contributions of the schools opened by the Gülen movement in Africa to preventing clashes in countries, where there is Christian-Muslim tension, with radical Islamist rhetoric and thus will create conflict rather than dialogue in African countries, stated a report recently released.

Victims of forced disappearance in Turkey

On this ‘International day of the victims of enforced disappearances’ (August 30), let’s raise our voices for the missing people of Turkey. In the aftermath of the coup attempt last year, at least thirteen people have been abducted allegedly by elements linked to the Turkish government as part of an intimidation campaign targeting critics and opponents of Turkey’s president.

Debate over Turkish government move on prep schools grows

The debate over the Turkish government’s move to shut down private prep schools is growing with a battle of words between the administration and private education representatives. Self-exiled Islamic scholar Gülen, on the other hand, asked his followers “to be resolute and not yield to despair,” in a speech posted on herkul.org, a website that broadcasts his speeches.

Turkey’s Erdogan and unending human rights repression

The judiciary, media organisations, opposition parties, civil servants, charity groups, just to mention a few, are being subjected to a daily dose of massive abuses and suffocation in Turkey under President Recep Tayyip Erdogan. The recent catch to the abuse list is the sacking of medical professionals, scientists, and other academics from universities.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Ministerial bureaucrats being purged over their alleged affiliations with Hizmet

Hizmet unmasks ‘undemocratic’ Erdogan

JWF organized a side-event at UN in Geneva

Turkish Cultural Center in West Haven hit with graffiti in wake of unrest

Fethullah Gulen and His Movement: A Brief Introduction

Hizmet and current political debates in Turkey

A new book: Fethullah Gulen and The Gulen Movement in 100 Questions

Copyright 2026 Hizmet News